Tiffany says goodbye to chief merchandising officer; creates new chief brand officer post
today Nov 19, 2019
NYC-based jewelry retailer Tiffany & Co. announced on Monday that its SVP and chief merchandising officer Pamela Cloud will be stepping down from her position after more than two decades at the brand, and also revealed that, following her departure, the company will create the new role of executive vice president and chief brand officer.
Cloud first joined Tiffany as a watch buyer in 1994 and served in a range of different marketing and merchandising roles at the company before taking on her current position in February 2018.
Prior to coming to Tiffany, she served as an assistant buyer at Bloomingdale’s for just over two years. The executive has a BA in political science and government from Georgetown University and an MBA from New York University’s Leonard N. Stern School of Business.
She also served as a member of the board of trustees of the Museum of the City of New York from 2011 to 2014.
According to a SEC filing, Cloud’s departure is effective November 26, 2019, after which, Tiffany will establish the role of chief brand officer “in the interest of further aligning [the company’s] global merchandising and marketing strategies.”
The new role is expected to be filled by an external candidate, and Tiffany’s senior merchandising officers will report directly to the company’s CEO until a suitable applicant can be found.
Following her departure from her current role, Cloud will continue to support the company by assisting in the transition of her responsibilities to her successor.
Tiffany, which reported earnings of $136.3 million on revenues of $1.05 billion in the second quarter ended July 31, 2019, recently received a proposal from French luxury giant LVMH, who offered to buy the company for $120 a share, or $14.5 billion.
According to Tiffany, the proposal is currently under serious review.
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